can anyone work this out .. ATM withdrawal or not ...?

[steven100]

Can anyone advise what is the best option to get the best rate or minimal charge ...

I want to get money from a Building Society in Australia .. say $3,000

The building society uses Western Union as their transfer agent ( TT )

however charges are $50 + ANZ $20 = $70 or 1,700 baht + 500 baht Bangkok bank. total = 2,200 baht

Current rates : Buying TT = 24.61 Buying Bank notes = 25.64

I have an ATM visa Debit card .....

Am I best to withdrawal some using the ATM ? what will the charge be ? what rate ?

Can I get a cash advance at SCB with the ATM visa Debit card .... is this the best option ?

I am not sure if the building society will let me use OZForex .. ?

Any suggestions .....

[Rob13]

Tell the Bldg Society to put the money in your Aus. account and use your debit card at the ATM, i'd avoid from WU if possible

Edited February 9, 2016 by Rob13

[steven100]

Tell the Bldg Society to put the money in your Aus. account and use your debit card at the ATM, i'd avoid from WU if possible

hi Rob, the money is already in the Aus building society acc.

so you think just use the ATM here in Bangkok. ?

[Crossy]

TT is usually the most economical way to transfer money internationally.

If you use the ATM you'll likely get stung for 180 Baht per withdrawal (max 20 - 30 k Baht depending upon the bank).

If you do use an ATM and it offers to convert to your home currency (Dynamic Currency Conversion) do NOT accept the conversion, you get an awful rate. If you don't accept you still get your cash but you get the Visa rate.

Ask in the bank whether they will give a cash advance against a Visa debit card, they certainly can against Visa credit cards.

[Rob13]

That's what I'd do. The Thai ATM charge will be about 200 baht, your Aus. bank may or may not charge your a fee, alot cards these days waive the foreign transaction fees.

You ought to notify the Aus bank that you will be using your card in Thailand, otherwise they might put a stop on it.

[steven100]

TT is usually the most economical way to transfer money internationally.

If you use the ATM you'll likely get stung for 180 Baht per withdrawal (max 20 - 30 k Baht depending upon the bank).

If you do use an ATM and it offers to convert to your home currency (Dynamic Currency Conversion) do NOT accept the conversion, you get an awful rate. If you don't accept you still get your cash but you get the Visa rate.

Ask in the bank whether they will give a cash advance against a Visa debit card, they certainly can against Visa credit cards.

ok, I'll try the cash advance at SCB... that is the cheapest way,? if I can't I'll have to do the ATM and maybe over several days.

Thanks.

[steven100]

That's what I'd do. The Thai ATM charge will be about 200 baht, your Aus. bank may or may not charge your a fee, alot cards these days waive the foreign transaction fees.

You ought to notify the Aus bank that you will be using your card in Thailand, otherwise they might put a stop on it.

thanks Rob, as mentioned I'll try the cash advance and if not then the ATM ...

I hate paying that $70+ for a transfer ...... to me that's outrageous .... $40 ok ... but not 70.

[Crossy]

3k Aus is about 74,000 Baht.

If you use Bangkok Bank ATMs they give 25k per transaction if your card limit allows.

Three transactions at 180 Baht a pop = about 22 Aus plus any international withdrawal charges made by your bank.

[Rob13]

Somebody said on another thread that Thai Military bank will let you withdrawal 30k on your ATM card

[steven100]

3k Aus is about 74,000 Baht.

If you use Bangkok Bank ATMs they give 25k per transaction if your card limit allows.

Three transactions at 180 Baht a pop = about 22 Aus plus any international withdrawal charges made by your bank.

yeah right, so the 22 dollars is not so bad but depends on the international withdrawal charge + the rate given .... I'll check if i can do the cash advance , but not sure with a debit card ...

[steven100]

Somebody said on another thread that Thai Military bank will let you withdrawal 30k on your ATM card

right, BB allows 25k ....

[fey]

if the building society uses western union why is an atm card even an option?

i believe western union funds need to be picked up at a branch office

[WhamBam]

Don't forget your Passport if you go to the bank with your Visa card.

I did this with a Visa debit card but had to explain I needed much more than the ATM would give - as they were reluctant to do the deal initially.

Use a bank where you know someone speaks reasonable English.

I only did this once when my credit card got damaged. But it is doable.

[steven100]

Don't forget your Passport if you go to the bank with your Visa card.

I did this with a Visa debit card but had to explain I needed much more than the ATM would give - as they were reluctant to do the deal initially.

Use a bank where you know someone speaks reasonable English.

I only did this once when my credit card got damaged. But it is doable.

Just went to SCB and did a cash advance for 10k baht. no problem as I had my passport & visa debit card.

Now my question is , are the charges going to be less with the cash advance for 10k or will it be the same as if I used the ATM. ???

[steven100]

if the building society uses western union why is an atm card even an option?

i believe western union funds need to be picked up at a branch office

The ATM card is an option because I get wacked $70 for the transfer.

WU funds are TT'd from my building society account into BB account ... it's a TT into a bank account not normal instant money transfer ... it's a telegraphic transfer - 2 days -

[KhunBENQ]

Haven't read all posts...

For about 3000 AUD (as written above about 74000 Baht), you will need 3 ATM withdrawals.

Krungsri and TMB allow 30k per transaction, Bangkok Bank 25k (if the card as such allows).

Thats a maximum of 600 Baht of fees in Thailand (~ 24 AUD, fee has risen to 200 as I read recently).

It all depends on how much fees the card issuer in Australia raises.

[Pib]

OP, partial quote from your opening post:

Current rates : Buying TT = 24.61 Buying Bank notes = 25.64

Where did you get a Notes "Buying" Rate of 25.64, which is almost a 1 baht higher than the TT Buying Rate which is the highest/best rate and the Notes rate the lowest. You sure that 25.64 rate was not the TT "Selling" Rate which means a person gets 1 AUD you must pay 25.64 baht....this would be used when converting baht back to AUD.

[aussiandrew]

For the future bring cash.

For the future open an account and do Internet banking if your Aussi bank has international transfer facilities.

We all learn the hard way.

[thrilled]

Me every time I come to thailand I bring the max the US allows me to.No matter if you do A wire,ATM,or whatever your going to have to pay extra money.Just do the math and pull the trigger.

[steven100]

OP, partial quote from your opening post:

Current rates : Buying TT = 24.61 Buying Bank notes = 25.64

Where did you get a Notes "Buying" Rate of 25.64, which is almost a 1 baht higher than the TT Buying Rate which is the highest/best rate and the Notes rate the lowest. You sure that 25.64 rate was not the TT "Selling" Rate which means a person gets 1 AUD you must pay 25.64 baht....this would be used when converting baht back to AUD.

Yes Pib, my bad ... you are correct .. I looked at the selling rate as 25.64 not the buying rate .....

Buying TT = 24.67 Buying Bank notes = 24.34

[steven100]

3k Aus is about 74,000 Baht.

If you use Bangkok Bank ATMs they give 25k per transaction if your card limit allows.

Three transactions at 180 Baht a pop = about 22 Aus plus any international withdrawal charges made by your bank.

I received this from the Building society ...

If you plan to use your Visa Debit Card while you're travelling, there is a 2% Conversion Fee each time you make an overseas transaction. There is also a $5.00 Cash Advance Fee each time you use an overseas ATM to withdraw money from your account.

[Rob13]

pricey...maybe cheaper to use Western Union

[steven100]

pricey...maybe cheaper to use Western Union

yeah right.

looks like it's 2% + $5

I have done the 10k cash advance yesterday. I might just use the ATM for the rest just every week or so. I can go into the account and see what was exactly taken / charged for the 10k cash advance but I won't know the rate unless charges are shown separate.

I'll use the ATM and see if there is much difference ...... I can check the rate on the BB currency exchange rate for here, it will give me an estimate.

Whatever way .... they still slug the customer ..... geeeeeeezee I hate banks ...

Edited February 10, 2016 by steven100

[Rob13]

When you return to Aus., shop around, there are banks that don't charge foreign transaction and ATM fees, in the US there is anyways, probably same downunder, i'd think

[steven100]

When you return to Aus., shop around, there are banks that don't charge foreign transaction and ATM fees, in the US there is anyways, probably same downunder, i'd think

yeah I will.

[KhunBENQ]

2% + 5$

One of the worst.

Cash if possible as mentioned. Hard to beat.

Good booths/changers give 24.8 today upto 24.9 (avoid the banks).

3000 * 24.8 = 74400, no fees of any kind, cash on the desk.

Edited February 10, 2016 by KhunBENQ